Cons

As a dominant sort of activities among nations and states, world trade is that the largest trade within the world. In 2017, the whole quantity of worldwide import and export reached $31.8 trillion that is the combination of GDP for China and the US.

GDP is Gross domestic product which is the monetary measure of the market value of all final goods and services produced in a particular time.

However, from 2008 to 2017, the world trade industry has been dead. Whereas the transactions tend to be break and repeated even more. The existence of trust barriers greatly limits little and medium-sized enterprises, particularly those unable to get a letter of credits from banks, to induce concerned in world trade activities.

Blockchain technology brings new solutions to this problem by transforming the traditional internet information sharing into the value sharing provided by decentralized trust. For the first time, distributed technology by blockchain provides unchangeable transaction records with no need for third-party intermediaries’ guarantees.

For the first time, the international trade involving multiple participants can trust the same data source and the business logic built on the data source.

Bitcoin, the first generation of blockchain technology, provides the first cross-border payment solution of financial digital currency without intermediaries to serve the globe.

The second-generation blockchain technology Ethereum put forward the concept of smart contract where the code plays the role of law, which ensures that the participants cannot overthrow and subvert the previous contract and business logic.

Silkchain aims to solve these type of problems by their given solution.

What is Silkchain?

Silkchain is the blockchain technology based platform. The primary focus of this project is to improve the international trade ecology.

Silkchain is a platform dedicated to the development of the international trade business supported on decentralization, openness and win-win principles by blockchain technology. This project can offer priority to the development of a “global merchandiser credit system” and “supply chain monetary system” for the trade business.

Silkchain is monitored by DinoRiver group (Singapore) and variety of international leaders with years of cooperation and experience within the international trade business that have put together to establish the International Trade Digitalization Commission (ITDC), a corporation dedicated to the creation of a suburbanized world digitalized free-trade zone.

How does it works?

Silkchain is the most powerful crowdfunded blockchain among all initiated by the most important members.

The crowdfunded members are the group of well-known enterprise teams, commercialism entities or e-commerce, logistics, deposit and financial firms within the world. The “Silkchain” community created from several members can build the institution of “global merchant credit system” and “supply chain financial system”.

The fuel cost for the Silkchain smart contracts will be paid to miners. The fuel consumption for a particular smart contract is a fixed value of silk. It may feel some fluctuations with the time. In respect to that the foundation has right to periodically adjust fuel consumption baseline through the voting process.

The project developers calculated that within the next 3 to 5 years, it’ll bring trillions of dollars in annual increments in international trade. It will promote the transformation from ancient international trade stocks to digital trade. This will make further business opportunities price trillions of U.S. dollars annually.

All community members can work along to make associate degree equal and beneficial international trade ecology and share the massive dividends of ecological development.

Token Distribution

Token name

Silk

Technology

Ethereum ERC20

Max. Number of tokens

10,000,000,000

Currencies accepted

ETH, BTC, USDT

Fundraising = 25%.

Ecosystem incentive fund = 25%.

Developer team = 20%.

Community consortium = 20%.

Foundation discretionary = 10%

Fund use data

Infrastructure development = 25%.

Application development = 25%.

Safety investment = 10%.

Community operation = 10%.

Market promotion = 25%.

Legal and compliance = 5

PreICO

Starts = May 01st 2018.

Close = May 19th 2018.

Token price = 16,000 SILK/ETH.

Bonus = 10%.

Min. buy = 0.5 ETH.

Conclusion

The overall project is good. Specification and community building plans on blockchain by using smart contracts idea is also unique. The project can do well if they managed to attract people and make them understand that what is the Silk project in a normal user language. If they managed to do so the ICO will end with a huge success.

About Author

Mahesh Chaube

Hey,
This is Mahesh Chaube, computer Engineer by Education and Crypto Blogger by Profession From Mumbai. Here at coinraja i write about money making and Reviews on Cryptocurrency Related Thing. I hope you are enjoying My post.
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